Azul Preparing Follow-On Offer, Could Reach BRL1b: Estado

Company is preparing follow-on offering that could raise around 1 billion reais ($176 million) as the final step in its debt restructuring process, local newspaper Estado of S. Paulo reported, citing sources with knowledge of the subject.

• Operation scheduled for mid-April, according to report
• Offer is within the capital increase expectations included in restructuring plan: Estado
• Debt restructuring documents had predicted an offering at around $200 million
• Azul did not respond to requests for comment, Estado said

Original Story:Azul prepara follow-on que pode chegar a R$ 1 bi: Estado

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